Sandur Manganese & Iron Ores Limited (SANDUMA) Stock - Complete Technical Analysis - Sep 10, 2024

Sandur Manganese Stock Analysis: Key Support & Resistance Levels Technical Insights September 202

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Sandur Manganese & Iron Ores Limited is currently trading at 492, which is 22.55% below its 52-week high of 634.8, reached on June 20, 2024. The stock is up 106.34% from its 52-week low of 238.27, observed on September 27, 2023.

In terms of technical analysis, the stock is facing resistance near the 500 to 520 range, with the next significant resistance around 530. On the downside, crucial support levels are found between 470 and 490. A breach below these support levels could lead to further declines.

Technical indicators are pointing to a bearish sentiment. The MACD is negative, suggesting downward momentum. The RSI is in the lower range, indicating the stock might be oversold. The Stochastic %K is also in a low zone, reflecting bearish conditions. The Commodity Channel Index is in negative territory, which further supports the bearish view. The Awesome Oscillator and Williams Percent Range both point to weakness, indicating potential for continued declines.

The Average Directional Index (ADX) is relatively low, suggesting that the current trend may not be very strong. The Ultimate Oscillator is also in a low range, reinforcing the bearish sentiment.

In summary, Sandur Manganese & Iron Ores Limited is currently facing resistance around 500 to 530, while key support levels lie between 470 and 490. The bearish indicators suggest caution, and traders should watch for potential breakdowns below support levels.